How is division of property determined after a couple is already divorced?
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How is division of property determined after a couple is already divorced?
The division of community property was not done at the time of the divorce as one party had a free attorney that could not do the division. The couple has been divorced for 2 years now and one party would like to pursue division of property. Is there some sort of expiration date in which time frame this needs to be taken care of? Will the value of a home, 2 years after the divorce, be taken into consideration with the division or will the value of the home at the time of divorce only be taken into consideration?
Asked on January 9, 2013 under Family Law, Louisiana
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Based upon the fact that the marital assets and liabilities of your marriage were not divided at the time of the dissolution the marital assets under the laws of all states are essentially held in "partnership" by the parties and value is determined at present market value. The home's value takes into consideration current market value for division. Good question.
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